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It's the 'Great Resignation' for CEOs, as Well

The number of new executives appointed in 2021 surpassed pre-pandemic highs.

Businesses spanning every industry have expressed concerns over labor shortages resulting from employee exodus.

But a new report from recruiting firm Heidrick & Struggles suggests that the "Great Resignation" isn’t just a phenomenon driven by the rank-and-file.

The number of companies who changed CEOs in the first half of 2021 more than doubled that which took place in the six-month period prior.

In fact, the number of new executives appointed so far in 2021 has surpassed pre-pandemic highs.

The firm called the switch to all-virtual communication “exhausting” for executives, suggesting some were looking for a career or lifestyle change.

Others may have been kept in place during the instability of the early pandemic but their companies now feel more ready to make a change.

Heidrick & Struggles believes the pace of this will only increase as executives who delayed retirement during the pandemic finally pull the plug.

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